german law: New charges against Martin Winterkorn, the former CEO of Volkswagen VLKAF were also revealed in an indictment running to nearly 640 pages, according to CNN. Under German law, top executives must inform shareholders of information that can affect stock prices such as considerable financial risks as soon as they become aware of them. The two executives are accused of failing to disclose the huge financial risks of the diesel scandal to shareholders in a timely fashion. In a statement, prosecutors accused all three men of failing to carry out their duty to investors. Shareholders were also hit hard The company's stock price plummeted by nearly 40% after allegations of cheating were finally made public in September 2015. Herbert Diess, CEO of Volkswagen AG, was charged on Tuesday. context Image Object name Herbert Diess, CEO of Volkswagen AG, was charged on Tuesday. description Herbert Diess, CEO of Volkswagen AG, was charged on Tuesday. url Read More The indictments are the latest fallout from Volkswagen's bombshell admission in 2015 that it had rigged millions of diesel cars worldwide to cheat on emissions tests, a scandal that has cost the company over 30 billion.
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